The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-11-26
DRIVEN FROM OTHER STATES
Mutual Assessment Insurance Compa-
MES Coming to Indiana to Operate.
State Auditor Carr Turns His Attention to
Some of the Associations That He
Believes Are Not Reliable.

The assessment insurance com panies driven
ont of other States coming with a rush into
Indiana whore the insurance laws are less rig
orous. Now and tben word is received at the
Auditor of States Office that company, which.
officials say. has been examined ont of exist
encea in another State, proposes to do business
under the charter of an Indiana company that
has only limited patronage. This is accom-
plished by buying the charter outright, or By
consolidating the foreign with the home concern
under the name of the latter It ID within the
knowledge of the Auditor OF State and Attor-
Dey-Reneral that Michigan assessment compa-
ny. routed out of that State, crossed the Indiana
border, and paid $500 for the charter OF a COM
pany the receipts of which were beeearly. An
Dficer Of the concern. on a notice from the
Auditor of State, who is acting on the belief
that a company not good enough for Michigan is
not sufficiently strong for this State, came
Co the city with the purpose of hav-
ing things his own way. He left
In rage threatening every kind of revenge
short of assault and battery and murder. Mich
igan sent another tabooed company which
began TO do business under the charter of 1.-THE
Equitable Life Association of South Bend c.
9. Gilmore is the chief spirit in the consolidated
companies, and when the Auditor of State wrote
to him that he had no legal authority to operate
in Indiana, he sent in reply g curt note intimat-
ing that il none of the Auditors business
Since then II is understood that the Michigan
company has come here to do business under
the "Old WAYNE charter"
Michigan mas, within the past year. given In
diana fifteen of these companies and now Kan
sas proposes TO supply her quota In that State
recent legislation has put them under the ban
of prohibition and the first company that is
making arrangements TO continue business I'M
der the lax Indiana laws is THE South western
Mutual Benefit Association of Topeka" In
circular dated Nov. Is it states it has
secured an arrangement for the transfer of the
Insurance of its members who in good
standing TO the Howard Aid Association of In
cianapolis. It is claimed that the last-named
association has paid TO widows and orphans
over S125, 600. In the Auditor OF States Office
however, is the report made by the Howard
last June, which shows that it has only 600
members. no assets, and that the money col
Jectei is a little less than the money refunded
d. w. Wilder, the Superintendent of Insurance
for Kansas has written Auditor Carr informing
him that two companies of his State have united
with the Howard, of which association ne can
find no mention in the assessment year book j.
Stevenson, OF Topeka. who holds mem bership
IN the Southwestern, has also written for in
formation to assist him in arriving at concu-
sion whether he shall become a member
the Auditor has quoted the How
ards last report, and told the Kansas
authorities that Indiana is somewhat unfortu-
nate in regard to its control of the assessment
companies. They required give bond
TO have capital, while the regular companies
cannot do business without having 5000, 900 cap
ltal IN specified securities. He further wrote
that he WAS working in quiet way. as far
possible, TO make these companies show what
strength and stability they had. One suit is
pending. and he has others in view.
In regard to the business arrangement with
the Southwestern. Berry Self, President Of the
Howard. says il is an agreement on the part Of
his company to receive such risks of the Kansas
concern the Howard desires to take He did
not know much about the uthwestern, but
Mr.. Reploee, Secretary of the Howard, had in
vestigated its affairs and made the agreement
The Auditor of State has notified the home
company that the Consolidation or agreement
must not be carried out or he will bring suit
against It